- XRP reached a seven-year high and fulfilled a bullish forecast with a strong triangle breakout.
- Positive numbers, including increased trades and whale activity, support XRP’s bullish momentum.
Ripple [XRP] has climbed to a seven-year high, hitting $3.39 for the first time since January 2018, sparking renewed interest among investors.
Within just eight hours, XRP saw 2,365 whale transactions over $100,000, marking the highest spike in activity since late December.
Moreover, over 511,430 new non-empty wallets have been added in the past two months, reflecting strong accumulation. At the time of writing, XRP was trading at $3.27, up 5.83% in the past 24 hours, reinforcing its upward momentum.
XRP surpasses the $3.00 target
AMBCrypto previously had that marked a descending channel breakout as a key bullish indicator for XRP, with a projected target of $3.00.
The chart perfectly matched the recent rally as XRP not only reached but surpassed this milestone, establishing $3.00 as a strong support level.
The token’s continued rally reinforces the validity of the previous forecast and underlines the strength of its breakout. Therefore, XRP’s ability to build on this technical pattern signals the potential for higher targets.
Source: TradingView
Triangle Breakout: XRP Overcomes Resistance
The breakout of the symmetrical triangle has been a major turning point, indicating a strong continuation of the bullish trend. After the breakout, XRP successfully retested the $2.00 support zone and established $3.00 as a new base.
The price rose above this level with significant momentum, supported by strong trading volumes. With these developments, the altcoin is now targeting $4.00 as its next resistance level, maintaining a clear bullish trajectory.
Source: TradingView
Buy-sell tug-of-war: who wins?
The taker buy-sell ratio, which reflects the balance between buying and selling activity, currently stands at 0.967. This reflects an increase of 0.98% in the last 24 hours. While this indicates slightly higher pressure on the sell side, strong bullish momentum continues to dominate.
Therefore, buyers remain in control, supporting the price action and sustaining the uptrend of XRP. This balance highlights the growing confidence among market participants.
Source: CryptoQuant
Activity in the chain is increasing
The number of active addresses increased by 1.14% over the past 24 hours, indicating increasing engagement with the XRP Ledger. Furthermore, the total number of transactions increased by 0.97% to 2.58 million, highlighting the increased activity in the chain.
These increases reflect growing investor participation and support the altcoin’s continued bullish momentum, further validating the price increase.
Source: CryptoQuant
Whales on the move: what does this mean?
Whale-to-exchange transactions grew by 0.87% over the past 24 hours, reaching a total of 11,126,000. This increase in activity indicates that whales are actively moving XRP to exchanges, possibly for profit-taking purposes.
However, the overall market response shows resilience as strong buying interest continues to offset any selling pressure. Consequently, the altcoin’s bullish trend remains intact, supported by continued demand.
Source: CryptoQuant
Realistic or not, here is the XRP market cap in terms of BTC
XRP’s breakout from the symmetrical triangle and strong on-chain metrics leave no doubt about its bullish trajectory. With robust support levels and increasing investor activity, the altcoin is on track to achieve higher goals.
Therefore, a $15 price target is very achievable if current momentum continues.